EIA: U.S. gasoline production running near record levels 🔓

U.S. gasoline production is running near record levels through the first seven months of 2017, according to the Energy Information Administration.

It said the four-week rolling average production from U.S. refiners and blenders is well above the five-year average and close to the top of the five-year range.

U.S. gasoline inventories also remain relatively high despite growing domestic and foreign demand, Kallanish Energy learns.

Growth in U.S. gasoline production since March is the result of record-high refinery runs, EIA said. For the week ending April 21, U.S. refinery runs exceeded 17.5 million barrels per day (MMBPD) for the first time since EIA began publishing weekly data in 1990.

Refinery runs have since exceeded that level eight additional times and hit an all-time high of 17.9 MMBPD for the week ending Aug. 4. About 44% of the input to refineries is converted to motor gasoline.

Net production of finished motor gasoline averaged 9.3 MMBPD for the week ending Aug. 11. That reflects unadjusted refiner and blender net production of finished motor gasoline, less the use of fuel ethanol in order to isolate the petroleum component.

This quantity is 191,000 BPD lower than the five-year average, but nearly 500,000 BPD higher than the previous five-year average.

Gasoline inventories have been dropping because of gasoline exports and domestic demand, EIA said. Gasoline exports are small: roughly 761,000 BPD, it said.